...Global Trade – Agricultural Dilemma It is no surprise that global trade has considerably increased over the few decades. Global trade is and has been a major contributing factor in boosting growth to underdeveloped countries and improved the flow of capital investments. Global review of free trade policies and liberalization are important in trading across borders, but there are also significant problems regarding agriculture trade of developing economies. The economic growth and development of developing countries is extremely dependent upon their agriculture. Over the last few decades there have been persistent demands by developing countries for improvement in accessing world markets, the need for their agricultural exports, the need for better conditions, more competition and demands for differential treatment. The governments of developing countries should be held accountable for the poverty that their people face. Their rules need to be disbanded and then the formation of new rules can help to regain their food security and foreign receipts of economies. The formation of new rules would help to bring down the poverty levels and enhance fairness between citizens. Liberalization and free trade can spark economic growth and help to reduce poverty in developing countries and is needed in order to enhance global trading (Shah, 2013). The World Trade Organization has made great strides in the agricultural trade reform, but we still have a ways to go. Global agricultural...
Words: 1524 - Pages: 7
...Global trade affects many aspects of life. It can impact everything from the environment to your wealth and well- being of people around the world. It is not just trade that is on the agenda but environment and human health. This is one of the objectives that WTO or world trade organization aims to promote. As defined, WTO deals with the global rules of trade between nations. Its benefits are most commonly categorized to 10 aspects, namely: peace, disputes, income, rules, cost of living, choice, growths and job, efficiency, lobbying and good government. Our country, the Philippines, has been a WTO member since January 1995. Questions exist since then whether our country has derived the supposed to be benefits by joining this organizations. Is it really beneficial to the Philippines? One of my readings stated that political analyst, Walder Bello, described the Philippines membership on the organization as "a multilateral punishment". As for my opinion, I believe as well that Philippines is better off not joining the WTO. One obvious reason is that more Filipinos patronize foreign products than the local one. It is set to their mind that foreign products provide desired service or glamour expected of a product or brand than products coming from local. The philippines is a third world country and I notice that WTO hurts the third world. WTO rules force third world countries to open their market to rich country, multinationals, and abandon effects to protect small domestic...
Words: 324 - Pages: 2
...1. Downey's Foods export opportunity was a result of strategy reactive. When they presented the dish to Jetro it was given to them with the regular recipe that was used in Downey's tavern. They changed the soup with the reduction of the salt content so it could comply with the local Japanese taste after it was requested by the buyer. They also had to make sure the soup did not have polysorbate which was not allowed in Japanese food. 2. Downey was frustrated because of the multiple attempts to change the contents in the soup to abide by the Japanese health and food regulations. It passed the lab in the United States but when it reached the lab in Japan it did not pass the requirements needed by Japans. The same tests were performed from the same shipment and different results were obtained from the American lab and Japanese lab. Downey may also want to work with other Japanese traders to increase sales. It is important to find a trader that has large confections to Japanese businesses that would be interested in the soup. He may also want to research the food wants and likes of Japan to prepare the correct flavor of soup that will bring success. 3. Marketing research must be done to understand the wants and needs of a country's market. Whether it be Japan or another country, research needs to be conducted on the steps that are needed or recommended to succeed in the entrance of international business. It is important to respect the customs and likings of the country. Downey...
Words: 303 - Pages: 2
...Describe the importance of foreign trade in our global economy. Foreign trade is the business transaction among different countries. Foreign trade occurs for mutual satisfaction of wants and utilities of resources. Countries import what they are lacking and exports what they have. Foreign trade allows for a greater competition and more competitive pricing in the market. For example, Toyota motor company which is Japanese company having their branch in different country. Foreign Trade is very important in global economy. One of the importances of foreign trade is create more choices. When foreign trade occurs, there will be more foreign business that comes in doing business in local market. This helps in providing better choice to the consumers and provides varieties to the consumers. For example, when there is foreign trade carries out; Malaysian can have different choices of bags like Louis Vuitton, Coach, and Prada that from foreign country. The next importance is increase the quality of the products. When there is foreign trade, there will be competition and the local firms can feel the threat. Thus quality and standardized products are produced to attract customers to make sure that they can sustain in the market. For example, When Padini breaks into the local market, the local clothing manufacturer will try to improve their quality to attract the customer to buy the clothes. Besides that, foreign trade helps in generating employment opportunities...
Words: 351 - Pages: 2
...Introduction: A Brief History of Global Trading and Cotton It is undeniable that under the influence of globalisation, the development of global economy is flourishing. Driven by the technological development, the world becomes smaller, connects tighter, and, at the same time leads to the simplification and reduction of trading process and costs, including the production cost and transportation cost and so forth. The global specialisation/ division of labour in the globe also contributed to the global production and global trading. Under the impact of globalisation, the global trading network becomes more and more complex, and this is the phenomena that scholars called ‘Economic Globalisation’. When studying globalisation, people usually regarded...
Words: 750 - Pages: 3
...Elena Rodriguez Global Trade Debate Global Trade Debate Why do people love chocolate so much? Is it the smell, the taste, the texture or something more? Do people know what it is the truth hidden in the chocolate business? Do they know that the main ingredient it is child slavery? Thankfully, I can said that I don’t like chocolate, so I don’t feel guilty for consume it. However, should I feel comfortable? Or should I think about what I am consuming that its production leads into harm our people, our animals and our planet? After I watched the “Global Trade Video”, I started to think deeper about the damage that consumerism is doing to innocent people. Based upon this DVD, I tend to see it from a Marxist perspective because it talks about how the rich people are getting richer at expense of poor people that are getting poorer, “the class struggle”. Personally y agree with the Video, and my position is against globalization, but I can’t be 100% in opposition because there are some points that make it positive; for this reason, I will explain what are the pros and the cons of globalization from my opinion. One positive side of globalization is that it promotes global economic growth, creates jobs, makes companies more competitive and lowers prices for the consumer; thus, countries can balance their inflation. Also, there is a worldwide market for the consumers that can access to products from different countries without live their houses. In addition, with the advance...
Words: 1647 - Pages: 7
...osary GLOSARY GLOBAL TRADE: The worldwide business that involves making and collecting payments for transactions in goods and services, and transporting them to interested markets. The overall reduction of global trade barriers and the ease of advertising to foreign markets via the Internet have increased the potential for a company doing business outside one's home country. INTERNATIONAL TRADE: The exchange of goods or services along international borders. This type of trade allows for a greater competition and more competitive pricing in the market. The competition results in more affordable products for the consumer. The exchange of goods also affects the economy of the world as dictated by supply and demand, making goods and services obtainable which may not otherwise be available to consumers globally. REGIONAL TRADE: A regional free trade agreement removes all barriers to trade and foreign investment, meaning that poor economies are not allowed to use import tariffs to protect their growing industries or their farmers from floods of cheap imports. GLOBALIZATION: The worldwide movement toward economic, financial, trade, and communications integration. ANTI-GLOBALIZATION: Movement whose participants are opposed to capitalism and globalization. The philosophy of the movement is based on the belief that individuals and organizations can achieve social, personal and economic goals without the negative consequences associated with capitalism. The anti-globalization movement...
Words: 2321 - Pages: 10
...certainly very large in size," Neumann added. "At the same time these [PPP] measures shouldn't be the be-all and end-all of international comparisons. When, for example, we measure international purchasing power expressed in dollars, which matters in international trade, the U.S., Europe and Japan continue to be the dominate economies in the world." China's economy grew an annual 7.4 percent in the first quarter of this year, slowing from a 7.7 percent increase in the final quarter of 2013. Still, its economic growth continues to outpace that of developed world economies. China’s economy suffered economic downturns during the leadership of Chairman Mao Zedong, including during the Great Leap Forward from 1958 to 1960 (which led to a massive famine and reportedly the deaths of tens of millions of people) and the Cultural Revolution from 1966 to 1976 (which caused political chaos and greatly disrupted the economy). Since 1979, China’s average annual real GDP has grown by nearly 10%. This has meant that, on average, China has been able to double the size of its economy in real terms every eight years. CHINA’S RISE TO TRADING SUPERPOWER 1978-2008 Under the centrally planned economy prior to 1978, China conducted minimal trade with the rest of the world, exporting just enough...
Words: 3140 - Pages: 13
...Introduction World trade organization it is the global trade body, many country look toward as business reformation point of view. It made a rules and regulation for the global trade. It solve a trade relate dispute on international level, aim of the organization is to promote and give a platform to a developing country to show their product standard and access a international market. It has a separate guidance and principal to deal with a business problem and control the trade barriers. It is made a policy for accelerate a trade and build a bridge for developing country to reach toward develop nation. It provides a liberal agreement with member country for co-operative support to developing country. Indian agriculture it is feature in itself,...
Words: 1507 - Pages: 7
...Indian Ocean especially became an important crossroads for global exchange with the majority of the wealth concentrated in Asia, particularly China and India. By examining the first global trade routes, the interactions between different groups of people, and the importance of China’s role in the global economy we will be able to see the first origins of the modern globalized world we know today. During the 1000- 1500’s Asia became the center of an extensive and systematic linkage of global trade. Interactions between multi-cultured people and diverse nations came together at many trading hubs throughout the Indian Ocean. Here India traded cotton colored textiles in exchange for food, gold, silver and other commodities. China manufactured luxurious goods, in particular silk, which became similar to a standard currency in trade and in return sought out preciosities, silver, raw materials and horses. Slaves were also a large market but were not depicted through race they were used as domestic servants to the wealthy and as labor in Africa and surrounding nations. Slaves were seen as permanent children to their owners and never provided with degrading work (Marks, 57). During 650- 1000 Arabian people carried goods, ideas and spread their language and religion throughout Asia, East Africa and Indonesia (Marks, 45). By 1000-1500’s Islam had spread significantly around the world creating a common language (Arabic) for trade and communication between distinct groups of people as...
Words: 1034 - Pages: 5
...In today's world there are many issues in need of reformation, one of which is international trade, otherwise known as globalization. Although there are a great deal of rules, regulations, and policies imposed on international trade, the manner in which those rules have been enforced is a major controversy that seems to be escalating day by day. At the center of the controversy is the World Trade Organization (WTO). The WTO was established in 1995 in order to transform the General Agreement on Tariffs and Trade (GATT) into an enforceable global commercial code. Critics of the WTO say that instead of being run democratically and in the interest of member countries, it has become the enforcer of corporate managed trade. A system whose ethics are not in favor of the public interest, instead the focus has shifted to large corporations and making money. Profit is the motivating factor behind decisions made by the WTO. By looking at international trade from the rational perspective, the WTO has not only failed to protect consumers, workers, and the environment, it has also acquired a number of opponents and protestors. Recent issues concerning the WTO include President Clinton's signing of a bill, which grants permanent normal trade relations to China and virtually guarantees them membership into the WTO. Not concerned with China's communist regime that abuses its workers, supporters of the bill call it a "major victory for U.S. companies like Microsoft Corp. and Boeing Co....
Words: 825 - Pages: 4
...Global trade is the international exchange of products and services between different countries or territories. It involves the activities of the government and individuals and is usually formed by exports and imports. For many countries, global trade is a significant share of the gross domestic product (GDP). The importance in economic social and political life has been increasing rapidly in recent years. This increase can be mainly attributed to globalization and multinational corporations. It also follows the trend of development of the global economy. By looking at data provided by the World Trade Organization, it is possible to calculate the percentage of total merchandise increase in world export and import. Table 4.1 shows the results...
Words: 999 - Pages: 4
...On May 1st 2013, the website released an article “Global Trade: U.S./Mexico Trade—7 Steps to Close the Gap”, which is about the strategies the U.S exporters and importers should acquire to improve the efficiency of trading goods through the border. By following these strategies, the U.S companies will more likely to get the most value possible when entering the Mexican market. This article explains very well why and how we, the U.S importers and exporters, should acknowledge these strategies. At the beginning of this article, the author introduces some facts about the increasing activities through the border between the U.S and Mexico. In 2012 alone, the trading values were $216 billion dollars in the U.S export and over $277 billion dollars in imports, which make Mexico the second largest export market of the U.S. We are expecting that in 2 more years, the our export to Mexico will be doubled from 2010. The author makes it very clear that the Mexican market is an” incredible market” that continues to grow 5 percent every year. By increasing exporting, the government is hoping to create millions of jobs. From the facts that the author mentioned above, it’s a huge motivation for the U.S companies to take advantages of this large and growing market to obtain the most benefit out of it. However, to succeed, the U.S importers and exporters have to understand the trending of the market and changes in regulation from both governments. The author mentions some challenges that could...
Words: 1077 - Pages: 5
...Conrado V. Molina Jr. GLOBAL/INTERNATIONAL TRADE 7/10/12 OM09402 IP laws- This is the area of law that deals with and oversees the creation of intellectual property patents, copyrights, trademarks and trade secret laws; the protection of intellectual property rights; and the legal pursuit of those who infringe on another’s rights to his/her intellectual property. It overlaps with several other areas of law, such as patent law, copyright law, contract law, tort law, trademark law and litigation. Trademark-A trademark is a brand name. A trademark or service mark includes any word, name, symbol, device, or any combination, used or intended to be used to identify and distinguish the goods/services of one seller or provider from those of others, and to indicate the source of the goods/services. Although federal registration of a mark is not mandatory, it has several advantages, including notice to the public of the registrant's claim of ownership of the mark, legal presumption of ownership nationwide, and exclusive right to use the mark on or in connection with the goods/services listed in the registration. Copyright- is a legal concept, enacted by most governments, giving the creator of an original work exclusive right to it, usually for a limited time. Generally, it is "the right to copy", but also gives the copyright holder the right to be credited for the work, to determine who may adapt the work to other forms, which may perform the work, which may financially benefit...
Words: 565 - Pages: 3
...Analysis of the Trade Impacts of the Global Recession of 2008 International Economics Oliul Islam (352949) Table of content 1. Introduction 2. The Recession 3. The Recession * Poor risk management * Over reliance on the Bull market * Trade Imbalance and debt bubbles * Lack of Transparency * Misguided information from the rating agencies 4. Effects on global trade * Trade and Industrial production * Unemployment * Financial market * Travel * Insurance * Small business lending * Pollution 5. Global responses 6. Policy recommendations 7. Risks 8. References Introduction In 2008, the world experienced a major financial crisis which was rooted from the US housing market; moreover, many economists considered it as one of the great recession since the Great Depression in 1930s. After posing a huge affect on the U.S economy, the financial crisis expanded to Europe and the rest of the world...
Words: 1982 - Pages: 8
